Layman Guide to Cryptocurrency: To buy or Stay the Heck Away from Bitcoin?

A Layman Guide to Cryptocurrency, What you Don’t know! A Mama and Papa’s Guide to Bitcoin!

Have you asked your self the question or wondered: what the heck is with this Bitcoin frenzy and cryptocurrencies? Well wonder no more because today I bring you the layman guide to cryptocurrency and what the heck is with bitcoin!

First things first: Understand that 98% of Cryptocurrencies are useless, scams…Well at least according to James Altucher! That is shocking, yet of course it makes sense…Every smart coder and their pet chiwawa are now busy creating currencies from thin air…lol!

Yet, trust me the 2% coins that are legitimate will last the test of time, solve global problems and are creating new Digital Millionaires…

So…Today, due to public demand, I share with you what I know. The basic concepts, call it your layman’s introduction to cryptocurrency…Let me reiterate again, I am not an Expert and there is a Heck of a Lot more to this whole concept…

You see…

Not so long ago the only people who knew about cryptocurrency were those who were involved in its creation and operations. For many including myself cryptocurrency was labelled as just another digital fad by some Japanese, maybe Chinese geek, economists, MLMers and financial peeps.

Fast-forward 2017, however and cryptocurrency has become a buzz-word and trend. It has also been integrated into business and trending culture. The leading Cryptocurrency; Bitcoin even become a target for Black-market hackers and blackmailers…Bah!

The Stock market couldn’t keep ignoring this trend either…But I jump the gun!

So today, lets clear the air on the difference between your bitcoin from your blockchain.

Understand that I AM NOT promoting any MLM or Currency. I am all about Educating you and pointing you to Information so you can be informed! And on that note:

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Now, lets break some crypto codes:

Watch My Video Expose on Cryptocurrency below:

#1. Layman Guide to Cryptocurrency: What is cryptocurrency?

The first Cryptocurrency was Invented by Satoshi Nakamoto, a pseudo name, definitely a mysterious internet personality! Who the heck is he or are they? Anyhoo…he named it – Bitcoin. He also invented the blockchain technology, this was in 2008. All cryptocurrencies run on a blockchain software. The first was developed and released with an open-source license in 2009, meaning that it could be continually developed and improved by its users.

Essentially what Blockchain technology does is remove all kinds of deception from the currency process. Bitcoin was its first application. First to Market. So its position is SOLID and every other crypto that comes to market must compete with bitcoin.

So this could mean that everything created via blockchain is meant to be open, integral…This does not mean you wont find the dark internet and people without integrity up to no good! After all haters and rogues will always be rogues. The only threat to cryptocurrency, is world governments!

Governments can and will probably create their own Government baked cryptos…but hey until then, Cryptocurrency is the currency of the people! And it is probably a once in a lifetime opportunity!

[clickToTweet tweet=”Blockchain technology removes all kinds of deception from the currency process. #bitcoin #crypto” quote=”Blockchain technology removes all kinds of deception from the currency process. “]

Anyway,…

Bitcoin went live online in 2009.

To many, it is essentially now a digital asset. Each currency runs on a blockchain, which can be thought of as an open-source ledger. As stated before, it is meant to be secure and anonymous and accessible to everyone with an internet connection.

Cryptocurrency has NO Sovereign Chains so it’s free for all…in a way! In other words, it’s Free of centralized control, like government legislation, and that’s why many are “Fearful” of it.

I was too to be honest when I first heard about it in 2015, and so I dithered…!

A cryptocurrency is a valid form of currency in many countries and organisations. Although it has not officially been declared a global currency on the Stock Exchange! It can be used to purchase goods and services and exchanged as well.

#2. Layman Guide to Cryptocurrency: What is it worth?

Each cryptocurrency has its own value, a value that is determined by the network of people using it. The more frequently a type of cryptocurrency is used the greater its value. There are literally hundreds of cryptos running on blockchains across the world.

[clickToTweet tweet=”The more frequently a type of cryptocurrency is used the greater its value. #cryptoguide #bitcoin” quote=”The more frequently a type of cryptocurrency is used the greater its value.”]

All these cryptos or alt-coins are much more versatile and less stable than Bitcoin, which on 13th August 2017 surged to over $4000. And in November 2017 went over 5 figures at 17k per coin value! What?

Ethereum next to Bitcoin, is quite versatile. A single coin recently rose to $400 in value, but it also dropped to as low as 0.10 cents.

There are approximately 17 million bitcoins in circulation around the world. In March 2017 the value of One Bitcoin overtook that of an ounce of gold, a first for any digital currency. It is said that there are a finite number of bitcoins approximately 21 million…

The idea behind blockchain technology was to create friction-free financial transactions, conducted online, anywhere in the world without the need for intermediaries or government regulation.

You can Learn about All these Currencies and How you can benefit from this Boom Right Here!

#3. Layman Guide to Cryptocurrency: Storing your Cryptocurrency

You don’t bank your coin in a bank or PayPal, you store it in a Coin Wallet. You can Use a Downloadable Software directly on your PC or Android phone. Or use one of a web hosted wallet. Downloadable wallet is easier to secure than a hosted one…in my view anyway! You get complete control over the use…BUT they are kinda dinky to install! So, most people go for the hosted type!

Most Common Wallets include: Coinbase, the oldest and most trusted, Bitconnect, Electrum, BitcoinPay, Mycellium, and SpectroCoin.

SO, THE QUESTION IS: TO INVEST OR STAY AWAY?

Like all trends, the people that are Pioneers, Beta Testers and Early adopters make a fortune. Late Adopters may also make a killing. The rest are laggards and may instead lose money. Unless you get in with the right crowd or find a great Stock Broker who helps you buy at the right price, and Sell at the right time too!

Because of its unpredictability and turbulence, it’s difficult to predict. To invest in a crypto like bitcoin today, you need to have Finances and Timing to get it right…

Understand that Cryptocurrencies have their own exchange rates. A mini stock market, where you register and create an account. You deposit your capital investment in fiat currency and then try to buy your crypto of choice.

Remember that unlike the stock market, the crypto market is not regulated or bound by any government law. Meaning, if you fail to do your research, or get educated, you are exposed to more of a risk.

WATCH VIDEO BELOW TO UNDERSTAND MY VIEWS ABOUT BITCOIN IF YOU WISH TO KNOW:

Now that you got the layman guide to cryptocurrency, lets focus a little more bitcoin! First, I want you to mark these words…When Everybody is talking about something, THAT’S THE TIME TO SELL…LOL!

[clickToTweet tweet=”When Everybody is talking about something, THAT’S THE TIME TO SELL! #bitcoinnews” quote=”When Everybody is talking about something, THAT’S THE TIME TO SELL! #bitcoinnews”]

Bitcoin LITERALLY increased in value by 55.30% in A SPACE OF a month. Question is, is it growing too fast and thus we are looking at a crash of giant proportions, or is it time to truly Invest in this Crazy Trend? Remember, trends is where savvy entrepreneurs make a fortune!

This time last year 1 Bitcoin was worth about $700 today its past $10,000 What does this say to YOU? To me it means there is Market for DIGITAL Currency! The world is hungry for something more than Gold and Silver…Which By the way you should invest in lol!

Here is where I challenge the challenger: Have you studied The Global BOOM Patterns?

In 2008 the Housing Boom Crashed round us and millions lost their fortunes and remained with EGG on their faces as the value of their real estate portfolios dropped to almost Zero…Many went into negative equity!

Anybody remember the Technology Boom? Well we are bang in the middle of it aren’t we?

Today its Cryptocurrency! And according to Robert Kiyosaki, “The Dollar is dead“…Hmmm do you agree?

All I know is that people seem to love the idea of a non-Government controlled currency. They want to be in control of their “Bank” as you do with your crypto-wallet! And you and buy and sell without the need of a Stock Broker, getting richer in the city… BUT WHO CONTROLS THIS CURRENCY?

We know that Bitcoin was hacked in 2016 and both Governments and organisations across Europe incl. the NHS were held at ransom.So up in smoke goes the “Its Un-hackable theory”

So, what the heck am I getting at here?

My point is – You decide what to invest and put your money in. The best way to make a Quick Killing is to Follow What’s Trending and Invest as a Beta Tester or an early Adopter. Right now, Bitcoin is trending, BUT it’s no longer cheap to Invest in! That’s a FACT! Like any investment there is a Risk…you decide.

[clickToTweet tweet=”The best way to make a Quick Killing is to Follow What’s Trending! #bitcoinnews” quote=”The best way to make a Quick Killing is to Follow What’s Trending”]

Yet, some experts predict that 1 Bitcoin could be in the higher 5-figures by this time next year…Lets Watch This Space shall we!

And HERE IS MY ADVICE or RECOMMENDATION:

While following a trend can be the way to make your fortune, you gotta get in pretty early…YOU MUST DO YOUR RESEARCH AND YOU MUST EDUCATE YOURSELF ON HOW TO MAKE IT WORK FOR YOU.

I don’t think being ‘trendy’ is a good enough reason to invest, though it might be a good reason to get educated and learn more about it.

Let me Say This: MY RECOMMENDATION IS INVEST IN YOU!

What do I mean by that?

Well I can assure you the most stable wealth is in

EDUCATION and

REAL ESTATE and I have aligned with these areas and never looked back. If you OWN real estate, even if it’s on Loan, you will have an asset even if the global economy yo-yos like 2008!

Education on the Other Hand never Gets Old…It just gets more accessible aka DIGITAL. With a Digital Product like Bitcoin, you Definitely NEED more knowledge. Apply it to your actions to AVOID Losing when the BURST Comes, which it will.

So, my #1 Recommendation is still Education. ?

Once You KNOW what you want, your Passion and Desire, and You LEARN how to Monetize it aka Entrepreneurship you cannot lose, unless you quit on YOU!

When you build your own passion as an enterprise or invest in a Product that represents that Passion, with a view to making it your own sooner, you will be in Control of your RECEIPTS or outcome, And you determine your INCOME…i.e. There is NO ceiling as to how much you can earn.

Cryptocurrencies, your MLM, that Product you promote, precious metal, stocks & bonds they can all go away. You literally don’t control them. I am not promoting my first online program…WHY? Because it shut down and the 2nd & 3rd …You get the picture!

I am not saying you can’t make money I DID and still do. But the longevity and amount you earn aren’t up to you! And you can never earn above the OWNER of that Program Period!

But as an entrepreneur whether in real estate, education or your Passion Product or Service – you get to choose your own results, by your actions. Period.

You are the captain of that ship, you have placed your bet on YOU not someone else’s dream!

So…How do you start?

By finding and learning from someone who already has walked your Idea! Has the Blue Print. You Learn the skills you need and apply as you build your own Passion or Enterprise…Or build that job, affiliate platform/product/service with a view to INVESTING in something more LONG TERM!

If you harbor dreams of becoming a crypto-millionaire,….

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If you want to create more cash in your bank, pay for your ailing parent’s medical bills, be able to afford your own home as opposed to always being late on the rent in 3-5 years’ time, this is one way I highly recommend to do it.

So, while Bitcoin looks very promising, building your own business or side gig is even more appealing because the only thing that’s keeping you from succeeding – is you!

There’s never been a better time to invest on what fires you up and make an income from it!

All you have to do – Learn how to Market and Sell and Take action on your Beliefs! If you made a mistake, so what? Life is full of risks that dont pay off, yet one thing is for sure, if you enjoy the ride and journey; There is No loss!

Let the experts Teach you about Cryptocurrency and make your Informed Decision! Don’t be the one sat one day regretting why you did nothing. At least you will be informed, Register for Your training here.

Nobody ever made a fortune by sitting on their laurels…And if you step out in integrity and a spirit of service, you will succeed. So, the BALL is in your court.

[clickToTweet tweet=”If you step out in integrity and a spirit of service, you will succeed. #bitcoinguide” quote=”If you step out in integrity and a spirit of service, you will succeed. bitcoinguide”]

DID you get value from our expose on a Layman guide to Cryptocurrency and Bitcoin? What are your thoughts on All this hoohah?

Live. Learn. Love

About Kalungi Group

Julie Syl & Paul Kalungi, Home Based Business Trainers, Speakers and Authors. We share what's working now in Internet marketing to help you the Marketer, Coach, Entrepreneur Generate Leads, More Sales and Live a Life you Love!

Comments

Great, informative post about cryptocurrencies. I will be taking a closer look at it this year. I agree with the fact that one should invest in EDUCATION first…before anything else. Thanks for sharing.

Thank you so much for the 411 on Bitcoin. Yes, I have noticed it on my social media channels more often and was curious about it. I am a pretty traditional type of investor so for now I will just continue studying it and we’ll see what the future holds.

I have to say that I don’t know much about cryptocurrencies but I have heard about Bitcoin. Your post is really informative and I learned a lot but I think I’ll stay away from cryptocurrencies for now.

I am doubtful in investing my hard earned money this way. I would rather buy tangible assets, like land or jewelry whose market values appreciate more than they depreciate. Great information you provided in this post though. It is going to be a big help for those thinking of going into the business of trading with cryptocurrency.

Cryptocurrency is very interesting. Me myself I also interested how it goes. I’ve heard that value of 1BTC went up to $20,000 and that is fantastic but it is not stable it may go too high or too low for just a minute. So if you want to invest through it just invest with your own risk. Invest what you can afford to lose.

I, being an older woman, only part time blogger will stay away from all cryptocurrencies. Now, if I were to win a million tomorrow I may think differently because the idea does get my attention and thoughts thinking.

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